Why Invest in Boyd Group Income Fund?

Why Invest in Boyd?

We think we are extremely well positioned to deliver unitholder value…

We have a strong balance sheet

We enjoy favorable industry trends

We operate in a recession resilient industry

We provide for cash distributions and have a conservative payout ratio

And… we have a high ROIC growth strategy

BUSINESS STRATEGY

Boyd’s primary strategy is to continue to focus on maximizing its opportunities through a commitment to:

Expense management through a focus on cost containment and efficiency improvements;

Optimizing returns from existing operations by achieving same-store sales growth and broadening product and service offerings;

Operational excellence through a focus on being the best-in-class service provider and implementation of the WOW operating way;

Doubling the size of the business beginning in 2016 by 2020. This implies and an average annual growth rate of 15%.

Expense Management

Boyd has achieved a reduction in operating expenses as a percentage of sales over the last number of years. By working continuously to identify cost savings and to achieve same-store sales growth, Boyd will strive to continue this trend. Operating expenses have a high fixed component and therefore same-store sales growth translates into a lower percentage of operating expenses to sales.

Same-Store Sales Growth and Optimize Returns from Existing Operations

Increasing same-store sales and running shops at or near capacity has a positive impact on financial performance. Boyd also continues to seek opportunities to broaden its product and service offerings in all markets to help grow same-store sales. During the last few years, the Company has focused energy and resources on increasing its share of the auto glass repair and replacement business.

Operational Excellence

Operational excellence has been a key component of Boyd’s past success and has contributed to the Company being viewed as a best-in-class service provider. Delivering on our customers’ expectations related to cost of repair, time to repair, customer service, quality and integrity are critical to being successful and being rewarded with same-store sales growth.

New Location and Acquisition Growth

Boyd will continue to pursue accretive growth through a combination of organic growth (same-store sales growth) as well as acquisitions and new store development. Acquisitions will include both single location acquisitions as well as multi location acquisitions. Combined, this strategy is expected to double the size of the business and revenues (on a constant currency basis) beginning in 2016 over the next five years, implying an average annual growth rate of 15%. With prudent financial management and its strong balance sheet , Boyd is further well-positioned to take advantage of large acquisition opportunities, should they arise, which could accelerate the time frame to double its size. It is expected that this growth can be achieved while continuing to be disciplined and selective in the identification and assessment of all acquisition opportunities.